FYI a second trade long module did
NOT take a trade at the close, the conditions were being met before
but was lost the last few min of the day
the RSI 40 however did take a 2nd entry of 40% using SSO.
The market is quite fluid here, do what you feel is right
message below from earlier in the day
......
So as you know one of the SPY Pro sub systems took a long trade
yesterday, the RSI 40 trade and I did a detailed discussion of it
last night, I didn't like the trade at resistance yesterday.
I like to give you as much data as I can so that you can make an
informed decision so here's the deal today:
1. The RSI 40 trade will be taking a 2nd entry at the close for
a 40% position in SSO.
2. However another one of the sub systems will be going long a
first entry of 60% SPY.
Remember the system has 22 sub systems, 11 longs and 11 shorts.
The system when combined only one trade type can occur at
once, however obviously the systems have overlap if you viewed them
individually, something I've discussed before many times.
anyway if you are following the system, it will be your call,
you can either do the 40% SSO for the RSI 40 2nd entry, or be more
conservative and do SPY if you were trading the NEW sub system that
is taking a first entry today - assuming of course we don't rally
too much off the lows before the close
no that's incorrect the trades I showed were single entry last
night, it has plenty of 2nd entries, here's the trades list as 2
entry. When doing this way, off 100K, the max draw down was
5K, not 8.4
Matt -- this shows the second entry in SPY (not SSO). Does the
TS report that you generate for performance just double the SPY
return on second entries even though they are shown as SPY
here?
Posted by bobbybiz on 13th of Sep 2016 at 03:51 pm
Matt,
I just joined BPT and taking my first trade with this system.
When entering a trade, ideally, is ii 1) Buy at close, 2) Buy
during extended hours or 3) Buy at Open, the next day?
hello and welcome. First of most trades I'm going to
confirm after the close because sometimes it's too close to call
and a lot can happen the last 5 or 10 min of the day, for example
the conditions to a trade could be confirmed all day long, only to
be lost the last few min of the day the market moved enough, so I
found it's best to confirm just after the close, so in that respect
you will be using after hrs.
Guys and Gals - please read my SPY system comments from the
sticky post at the top so that you have had time to think about it
vs waiting until the close when you might be emotional
IMPORTANT - SPY Pro system comments
Posted by matt on 13th of Sep 2016 at 01:21 pm
FYI a second trade long module did NOT take a trade at the close, the conditions were being met before but was lost the last few min of the day
the RSI 40 however did take a 2nd entry of 40% using SSO.
The market is quite fluid here, do what you feel is right
message below from earlier in the day
......
So as you know one of the SPY Pro sub systems took a long trade yesterday, the RSI 40 trade and I did a detailed discussion of it last night, I didn't like the trade at resistance yesterday.
I like to give you as much data as I can so that you can make an informed decision so here's the deal today:
1. The RSI 40 trade will be taking a 2nd entry at the close for a 40% position in SSO.
2. However another one of the sub systems will be going long a first entry of 60% SPY.
Remember the system has 22 sub systems, 11 longs and 11 shorts. The system when combined only one trade type can occur at once, however obviously the systems have overlap if you viewed them individually, something I've discussed before many times.
anyway if you are following the system, it will be your call, you can either do the 40% SSO for the RSI 40 2nd entry, or be more conservative and do SPY if you were trading the NEW sub system that is taking a first entry today - assuming of course we don't rally too much off the lows before the close
FYI a second trade long
Posted by matt on 13th of Sep 2016 at 04:03 pm
FYI a second trade long module did NOT take a trade at the close, the conditions were being met before but was lost the last few min of the day
the RSI 40 however did take a 2nd entry of 40% using SSO.
The market is quite fluid here, do what you feel is right
Uncharted for RSI 40
Posted by sschulman on 13th of Sep 2016 at 04:34 pm
Wow - looking at the RSI_40's history of trades from last night's newsletter, this is the first time ever that the RSI_40 took a 2nd entry.
no that's incorrect the trades
Posted by matt on 13th of Sep 2016 at 09:52 pm
no that's incorrect the trades I showed were single entry last night, it has plenty of 2nd entries, here's the trades list as 2 entry. When doing this way, off 100K, the max draw down was 5K, not 8.4
I seeee. Thank you for
Posted by sschulman on 14th of Sep 2016 at 01:01 pm
I seeee. Thank you for the clarification.
SPY pro - second entry
Posted by iz_bs on 14th of Sep 2016 at 03:13 am
Matt, is second entry in SPY pro triggered by signal or percentage decline?
Matt -- this shows the
Posted by puma on 14th of Sep 2016 at 01:13 am
Matt -- this shows the second entry in SPY (not SSO). Does the TS report that you generate for performance just double the SPY return on second entries even though they are shown as SPY here?
Can you trade the SSO
Posted by sbwoman on 13th of Sep 2016 at 04:14 pm
Can you trade the SSO after hours? I can't seem to make the trade :(
SSO is very liquid and
Posted by steve on 13th of Sep 2016 at 06:48 pm
SSO is very liquid and easy to buy after hours - sorry just noticed your post.
Spy is liquid after hours.
Posted by portobellovcs3 on 13th of Sep 2016 at 04:40 pm
Spy is liquid after hours. Maybe just double up the trade on that.
Buy @ close
Posted by bobbybiz on 13th of Sep 2016 at 03:51 pm
Matt,
I just joined BPT and taking my first trade with this system. When entering a trade, ideally, is ii 1) Buy at close, 2) Buy during extended hours or 3) Buy at Open, the next day?
Thanks
hello and welcome. First of
Posted by matt on 13th of Sep 2016 at 03:55 pm
hello and welcome. First of most trades I'm going to confirm after the close because sometimes it's too close to call and a lot can happen the last 5 or 10 min of the day, for example the conditions to a trade could be confirmed all day long, only to be lost the last few min of the day the market moved enough, so I found it's best to confirm just after the close, so in that respect you will be using after hrs.
Matt -- can you tell
Posted by puma on 13th of Sep 2016 at 02:22 pm
Matt -- can you tell us what the other sub system is that is taking a trade and give us the stats for it -- thanks.
probably either the Trend or
Posted by matt on 13th of Sep 2016 at 02:36 pm
probably either the Trend or Pullback long not sure
when you know which one
Posted by puma on 13th of Sep 2016 at 02:57 pm
when you know which one it is can you give us the stats for it, Thanks!
Guys and Gals - please
Posted by matt on 13th of Sep 2016 at 01:24 pm
Guys and Gals - please read my SPY system comments from the sticky post at the top so that you have had time to think about it vs waiting until the close when you might be emotional
LOL Matt, we can be
Posted by sschulman on 13th of Sep 2016 at 01:53 pm
LOL Matt, we can be both emotional and disciplined at the same time. Anyhow, I'm a girl - it's my birthright to be emotional whenever I want.
ha ha
Posted by matt on 13th of Sep 2016 at 03:47 pm
ha ha
I didn't know there were girls here!
Posted by stevieb294 on 13th of Sep 2016 at 01:55 pm
Will try to watch my language.
There's no crying in BPT
Posted by sbaxman111 on 13th of Sep 2016 at 01:56 pm
There's no crying in BPT trading!!! LOL